![\"Gold](\"https:\/\/static.toiimg.com\/thumb\/msid-131523272,imgsize-76714,width-400,height-225,resizemode-4\/gold-price-prediction.jpg\" "\\"Gold\u2019s")
<\/div>\n<\/div>\n<\/div>\nGold price prediction today<\/span>: <\/span>Gold prices seem to be exhibiting weak intraday bias, says Jateen Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities. He recommends a sell on rise strategy.<\/span>Gold August futures on MCX are trading near \u20b91,58,000 after witnessing a sharp breakdown from the recent consolidation range. The price action indicates strong selling pressure as prices have slipped below key short-term moving averages and support zones. The current trend favors selling on rallies, with higher levels likely to attract fresh supply.Technical Setup<\/span>EMA 8 & EMA 21:<\/span>The 8 EMA has slipped below the 21 EMA, confirming a bearish crossover. Prices are trading below both moving averages, indicating that short-term momentum remains firmly in favor of bears.Bollinger Bands:<\/span>Gold is trading near the lower Bollinger band, reflecting strong downside momentum. Any pullback toward the middle band is likely to face selling pressure.Price Structure:<\/span>The chart reflects a clear lower-high and lower-low formation, confirming continuation of the downtrend. The recent breakdown below the support zone around \u20b91,58,600 has further strengthened the bearish setup.RSI Indicator:<\/span>RSI is near 30, hovering around oversold territory. While minor pullbacks cannot be ruled out, momentum remains weak and supports a sell-on-rise strategy.MACD:<\/span>MACD remains in negative territory with widening histogram bars, indicating strengthening bearish momentum and lack of buying conviction.<\/p>\n <\/p>\n Gold\u2019s intraday technical structure remains weak following a decisive breakdown below key support levels. The bearish EMA crossover, weak RSI, and negative MACD setup suggest that rallies are likely to be sold into. Traders may consider selling near \u20b91,58,300\u2013\u20b91,58,500, maintain a strict stop-loss above \u20b91,59,100, and look for a downside move toward \u20b91,57,500 during the session.Sell on Rise | Resistance: \u20b91,58,500 | Target: \u20b91,57,500<\/span>(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India.)<\/span><\/div>\nGold Intraday Trading View<\/h2>\n<\/p>\n
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